ACC 205 (ACC 205)

Which of the following describes the journal entry for applying manufacturing overhead to the Formulating DepartmentWhich of the following describes the journal entry for applying manufacturing overhead to the Formulating Department? multiple choice 2 Debit Work in Process—Formulating; credit Manufacturing Overhead Debit Manufacturing Overhead; credit Work in Process—Formulating Debit Finished Goods—Formulating; credit Manufacturing Overhead Debit Manufacturing Overhea...

Which of the following chart types would be best for showing the annual revenue growth of leading tech companies over the last five yearsQuestionWhich of the following chart types would be best for showing the annual revenue growth of leading tech companies over the last five years? Which of the following chart types would be best for showing the annual revenue growth of leading tech companies over the last five years? Pie chart Bar chart Line chart Scatter plotAnswer & ExplanationThe best...

Which of the follow2Question1. Which of the follow2. Which of the following types of depreciation is relevant to real estate...? Economic depreciation Material depreciation Capital depreciation Unit-of-production depreciaing is considered a depreciable asset...? Land Buildings Personal use assets FurnitureAnswer & ExplanationLet's address each question separately:1.Which of the following is considered a depreciable asset?oLand: Land is not considered a depreciable asset because it does ...

Where were the intangible assets on the parent or subsidiaryWhere were the intangible assets on the parent or subsidiary's balance sheets? On the parent's balance sheet embedded in the equity investment account. On the subsidiary's balance sheet, each intangible asset is listed. On the parent's balance sheet embedded in the equity investment account. After the consolidation process is complete, each intangible asset is listed on the consolidated balance sheet. On the subsidiary...

where do you assign group chart of accountsQuestionwhere do you assign group chart of accounts? general ledger account; company code; company; operating chart of accountsAnswer & ExplanationIn SAP, the group chart of accounts is assigned at the company code level. Here's a step-by-step explanation:1.Understanding Chart of Accounts:oA chart of accounts (COA) is a list of all general ledger accounts used by one or several company codes.oThe group chart of accounts is used to provide an ov...

where can you see the matching results from the intercompany matching and Reconciliation toolwhere can you see the matching results from the intercompany matching and Reconciliation tool?Answer & ExplanationIn the context of financial systems, particularly those used for intercompany transactions and reconciliations, the matching results from an Intercompany Matching and Reconciliation tool are typically viewed within the software platform itself. Here's a general step-by-step guide on ...

When the effectiveWhen the effective-interest method is used to amortize bond premium or discount, the periodic amortization will Select one: a. Increase if the bonds were issued at a premium. b. Increase if the bonds were issued at a discount. c. Increase if the bonds were issued at either a discount or a premium. d. Decrease if the bonds were issued at a premium.Answer & ExplanationThe correct answer is: b. Increase if the bonds were issued at a discount.Explanation:When using the effect...

When recording journal entries for production costs using a standard cost accounting syste1QuestionWhen recording journal entries for production costs using a standard cost accounting system, the favorable variances are recorded as ______ and the unfavorable variances are recorded as ______. Multiple choice question. debits; credits credits; debits debits, debits credits; creditsAnswer & ExplanationIn a standard cost accounting system, variances are recorded to reflect the differences betw...

When determining the fair value of an asset using an exit price approachWhen determining the fair value of an asset using an exit price approach,Answer & ExplanationWhen determining the fair value of an asset using an exit price approach, you are essentially estimating the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This approach is consistent with the definition of fair value u...

When an owner invests cash in the businessQuestionWhen an owner invests cash in the business, which accounts are used in this transaction? Question 1Select one: a. Increasing Cash; increasing Owner's Capital b. Increasing Cash; increasing Owner's Withdrawals c. Increasing Service Revenue; decreasing Net Worth d. Increasing Cash; increasing Service RevenueAnswer & ExplanationThe correct answer is: a. Increasing Cash; increasing Owner's CapitalExplanation:When an owner invests cash ...